Billionaire Ray Dalio’s Bridgewater Is Crazy About These 15 Stocks

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1. Alphabet Inc. (NASDAQ:GOOGL)  

Bridgewater Associates’ Stake Value as of Q3: $726.3 million

Number of Hedge Fund Holders: 202

Alphabet Inc. (NASDAQ:GOOGL), a technology leader, operates through a diverse portfolio that includes Google Services, Google Cloud, and Other Bets. Its flagship offerings, such as Search, YouTube, Android, Chrome, and advertising services, maintain a dominant market position, bolstered by cutting-edge advancements in artificial intelligence.

On October 29, Alphabet Inc. (NASDAQ:GOOGL) announced its fiscal Q3 2024 earnings, reporting a 15% year-over-year increase in consolidated revenue, totaling $88.3 billion. The Google Cloud segment, which includes Google Workspace, was a standout contributor, with revenue surging 35% year-over-year. This growth was largely driven by increased adoption of AI infrastructure and generative AI capabilities within its Cloud Platform services.

On November 21, UBS reiterated its Neutral rating on GOOGL shares, maintaining a price target of $192. The firm’s analysis focused on the Department of Justice’s (DOJ) Initial Proposed Final Judgment (PFJ), outlining remedies following a court ruling that classified Google as a monopolist in the search market. UBS noted that the proposed measures align with earlier DOJ frameworks from August and October, potentially posing a long-term risk to Alphabet’s revenue. However, the firm emphasized that any immediate impact on the company’s operations remains unlikely.

Although the implementation of the aforementioned regulatory changes depends on the outcome of appeals and potential Supreme Court proceedings, Alphabet Inc. (NASDAQ:GOOGL) plans to appeal the ruling and pursue an injunction, which would delay any required adjustments to its business practices.

While we acknowledge the potential of GOOGL, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than GOOGL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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